Gold falls as U.S. Treasury yields rise

CHICAGO, Dec. 29 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Friday as U.S. Treasury bond yields rose.

The most active gold contract for February delivery fell 11.70 U.S. dollars, or 0.56 percent, to close at 2,071.80 dollars per ounce.

Gold extended correction but a consolidation is likely ahead due to thin trading activity.

Market analysts hold that